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Ideaspace Ventures, backed by MVP Group, has made immediate investments in five innovative startups, expanding its portfolio and fueling the next wave of industry disruptors.

PRESS RELEASE

MVP Group’s Ideaspace Ventures adds five startups to portfolio with immediate investments

Manila, Philippines – Ideaspace Ventures, the startup accelerator arm of the MVP Group of Companies, has announced the addition of five new startups to its portfolio as part of the 12th cohort of its flagship accelerator program, themed “Resilient Founders: Game-Changing Ventures.”

For the first time since its launch, Ideaspace Ventures has made immediate investments in the startups selected, signifying its commitment to their growth and automatically including them in its portfolio.

The startups included in the latest cohort are the following: Collo, a startup that aims to improve and simplify property management; Flying Tigers Express, a logistics service startup focused on same or next-day, door-to-door, island-to-island express delivery; Itemcount, which seeks to help businesses earn more by simplifying inventory-keeping; Remotify, designed to transform remote work management; and Swiftclaims, a startup on a mission to improve Philhealth insurance claims processing for Philippine healthcare institutions.

These startups will benefit from Ideaspace’s comprehensive support, including mentorship on business operations, guidance on fundraising strategies, and insights into effective marketing and sales tactics.

“The rigorous selection process highlights the resilience of these startups. Despite facing the downtrend challenges of 2023, they have persevered, truly embodying this year’s theme,” Jay Fajardo, Ideaspace Executive Director and an alumnus of Cohort 11, said.

Ideaspace’s accelerator program addresses the funding gap startups face in the Philippines. A recent Gobi-Core Philippine Fund report noted that 57% of founders believe local startups “greatly lack” funding opportunities, with a 40% decline in investments in 2023. The initiative also seeks to address the decline in founder optimism, as highlighted in the 2024 Philippine Startup Founders’ Outlook study.

Rene “Butch” Meily, Ideaspace President, shared this optimism about the program’s latest cohort, saying, “We are thrilled to welcome the Cohort 12 startups into the Ideaspace family. The strength of our network, which connects founders, mentors, and the broader MVP group, will undoubtedly drive us to greater heights.”

Since its inception in 2012, the Ideaspace Accelerator Program has supported over 700 startups and accelerated more than 250 businesses. Notable alumni include Molinos de la Especia, a tech-driven marketplace for premium spices, Hey Roomie, a virtual community hub for growth, and Kazam.ph, a platform connecting homeowners and domestic workers. 

The 13-week accelerator program will culminate in a Demo Day during Philippine Startup Week 2024 (PHSW24) in November, as outlined by Ideaspace Deputy Director Ben Alderson. Aimed at fostering collaboration and innovation within the Philippine startup ecosystem, the upcoming PHSW24 aligns with Ideaspace’s mission to support local startups through partnerships with government agencies such as the Department of Trade and Industry (DTI), Department of Science and Technology (DOST), and Department of Information and Communications Technology (DICT).

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ABOUT IDEASPACE

Ideaspace is the Philippines’ premier startup enabler behind Ideaspace Ventures, a VC committed to invest in early-stage Filipino technology startups. Ideaspace was established in 2012 by its Chairman, Manny V. Pangilinan with the vision of supporting Filipino tech entrepreneurship, and is backed by First Pacific, Metro Pacific Investments Corporation (MPIC), PLDT-Smart, Meralco, and Maynilad, along with various public and private organizations. 

For more information on Ideaspace Ventures, visit https://www.ideaspace.vc/ or @IdeaspaceVentures on social media. 

Highlights

• Immediate Investments: Ideaspace Ventures, backed by the MVP Group, announced investments in five emerging startups, aiming to accelerate their growth.
• Portfolio Expansion: The investment strengthens Ideaspace Ventures’ portfolio, adding promising startups across diverse sectors.
• Supporting Innovation: The move underscores MVP Group’s commitment to fostering innovation within the Philippines and beyond.
• Key Sectors: The new startups span technology, sustainability, and digital transformation, contributing to industry disruption.
• Long-Term Vision: These investments align with Ideaspace Ventures’ mission to support early-stage entrepreneurs and drive long-term value creation in the startup ecosystem.

Conclusion

MVP Group’s Ideaspace Ventures has further solidified its role as a key player in the startup ecosystem with its immediate investment in five innovative startups. This strategic move not only expands their growing portfolio but also reinforces their commitment to fostering innovation and supporting emerging entrepreneurs. These startups are poised to drive significant industry disruption, with Ideaspace Ventures providing the financial backing and strategic guidance needed for long-term success.

The latest investments highlight MVP Group’s focus on high-growth sectors such as technology, sustainability, and digital transformation, ensuring these startups have the resources to scale and innovate. With Ideaspace Ventures at the forefront of startup acceleration, these new additions are set to make a substantial impact on the entrepreneurial landscape.

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Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

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